What Was NVIDIA’s Stock Price Before the Split?

A stock split is a corporate action undertaken by a company to increase the number of its outstanding shares. This process simultaneously reduces the price per share, making the stock more accessible to a broader range of investors. Importantly, a stock split does not immediately alter the total market capitalization of the company or the overall value of an investor’s existing holdings. It is a strategic move that reconfigures the company’s equity structure without changing its fundamental value.

Understanding Stock Splits

A stock split fundamentally changes the number of shares an investor owns and the price per share, while the total value of their investment remains the same immediately after the split. For instance, in a 2-for-1 stock split, an investor who held 100 shares at $100 each would then possess 200 shares, with each share valued at $50. The total value of their holding, $10,000, is preserved. This adjustment ensures that the company’s overall market capitalization also stays constant right after the split.

Common stock split ratios include 2-for-1, 3-for-1, or even 10-for-1, meaning that for every one share held before the split, investors receive two, three, or ten shares respectively. The price per share is adjusted downward proportionally to the split ratio. Companies often initiate these “forward” stock splits when their share price becomes very high, aiming to make individual shares more affordable and liquid, which can attract more retail investors. This increased accessibility can sometimes lead to greater trading volume and broader ownership.

NVIDIA’s Stock Split History

NVIDIA Corporation has undertaken several stock splits throughout its history, adjusting its share structure to broaden investor access. The first instance of a stock split for NVIDIA occurred on June 27, 2000, with a 2-for-1 ratio. This action effectively doubled the number of shares held by investors at the time.

Subsequently, NVIDIA implemented another 2-for-1 stock split on September 17, 2001. A third 2-for-1 split took place on April 7, 2006. On September 11, 2007, the company executed a 3-for-2 stock split, meaning investors received three shares for every two shares they previously owned.

More recently, NVIDIA conducted a 4-for-1 stock split on July 20, 2021. The most recent stock split for NVIDIA occurred on June 10, 2024, with a significant 10-for-1 ratio. These corporate actions have collectively increased the total number of NVIDIA shares significantly since its initial public offering.

Retrieving Pre-Split Stock Prices

To determine NVIDIA’s stock price immediately before a specific split, it is essential to understand the difference between “adjusted” and “unadjusted” historical stock data. Financial data providers, such as major financial websites, typically offer both types of data. Unadjusted data reflects the actual trading price of a stock on any given day, showing the raw price at which transactions occurred.

Conversely, adjusted historical data modifies past stock prices to account for corporate actions like stock splits and dividends. This adjustment creates a continuous price series that reflects the total return or value of an investment as if these corporate events had not occurred, or as if they were retroactively applied. For example, after a 2-for-1 split, an adjusted historical chart would show pre-split prices halved to align with post-split pricing, making long-term performance comparisons easier.

If only adjusted data is readily available, it is possible to reverse-engineer the actual pre-split price. This involves multiplying the adjusted price for the day before the split by the inverse of the split ratio. For instance, if the adjusted price before a 4-for-1 split was $100, the actual trading price was likely $400. Many financial data providers allow users to toggle between adjusted and unadjusted views or will explicitly state which type of data is being displayed.